Review on Coinbase Wallet by Benaiah A. Akinlade
Trading with coinbase
Coinbase platform is a secure crypto platform that makes buying, selling, and trading of crypto currencies easier and more efficient. It is a Bitcoin company located in San Francisco. It is regarded as the biggest and largest Bitcoin broker in the world.
Is coinbase safe?
As we all know that It is never totally safe to keep money online, Coinbase can be said to be of the safest crypto wallets. Coinbase keeps almost all of her assets in an offline storage that can't be physically accessed. It is believed that information stored in cold storage can’t be hacked, but user reports have emerged that coinbase can be hacked.
How coinbase works
For a user to use Coinbase wallet, the user is required to link a bank account, credit card or debit card to his/her Coinbase account in order to be able to purchase cryptocurrencies at ease.
It also allows users to sell Bitcoin to their PayPal accounts, and effectively cashing out in local currency.
Coinbase wallet allows users to trade various crypto currencies. It also shows the market values of such currencies and they appreciate and depreciate.
Pros
- It is one of the most secure crypto wallets
- Many crypto currencies can be traded on coinbase
- It shows the market values of cryptocurrency as they rise and fall so that the trader can decide which crypto to invest in
Cons
- User reports have shown that coinbase can be hacked
- Traders can lose money, because keeping money online is not totally secure
